The aggregate demand curve shows combinations of:
A. inflation and real GDP.
B. the price level and nominal GDP.
C. the price level and real GDP.
D. inflation and real GDP growth.
Ans: D. inflation and real GDP growth.
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In the short run, a monopolist will shut down when
a. average total cost is greater than price at all output levels b. average variable cost is greater than average fixed cost at all output levels c. price is greater than average variable cost at all output levels d. average fixed cost is greater than price at all output levels e. average variable cost is greater than price at all output levels
Which of the following is the environmental approach found in the Clean Air Act of 1990?
a. Marketable pollution permits. b. Price caps. c. Command-and-control regulation. d. EPA marginal social permits.
The Federal Reserve District Banks are owned by their ___________.
Fill in the blank(s) with the appropriate word(s).
Firms in an economy with high capital costs have an incentive to use more ________ techniques.
A. capital-dependent B. labor-saving C. capital-intensive D. labor-intensive